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ISM Non-Manufacturing

Sep 05 2020

An Unwelcome Surprise?

  • Sep 5, 2020

Several measures of U.S. economic “surprises” have soared to all-time highs in the last couple of months, showing that even economic forecasters have finally learned to play the corporate game of  “under-promise then over-deliver.” Mind you, that’s only 30 years after most industrial firms eliminated the role of “staff economist.”

May 07 2020

The NOPE Index Says “Nope!”

  • May 7, 2020

The most valuable gauge we construct from the ISM Manufacturing and ISM Non-Manufacturing reports sunk into bear territory with the April update, signifying a serious margin squeeze has hit the service sector.

Oct 05 2019

Last Bastion Breaking Down?

  • Oct 5, 2019

We’ve been expecting weakness in the manufacturing sector to spread to the service economy, but were not prepared for the nearly four-point drop in the latest ISM Non-Manufacturing Composite. We don’t want to overplay a single monthly reading from an historically volatile report, but the Non-Manufacturing Price Index spiked despite the drop in New Orders.